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Posted Thu Oct 8 2009: from COP15:
Cost of climate change: Pay now, or pay a lot more later
"As the news keeps sounding worse and worse, what we're talking about is not that the cost of doing something has changed -- the cost of doing nothing is really what's escalating." says Frank Ackerman, an economist at the Stockholm Environment Institute and Tufts University and lead author of the report "The Benefits and Costs of Climate Stabilization". The report was released this week by Economics for Equity and the Environment, a network of 200 economists that is a project of Portland-based Ecotrust. The economists estimate that it will cost around 2.5 percent of the gross world product to change the way we live and work, but such radical action would create jobs and could hurry technological advances just as the Cold War did in the 1950s and 1960s, The Oregonian reports. The study looks at what it would take to meet the recommendations of climate scientists who call for reducing atmospheric carbon concentrations from their current level of 387 parts per million to 350 parts per million -- compared to pre-industrial levels of 275.
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